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Ingenia Communities Group (ASX:INA) share price rally ends on investor update

Senior living developer Ingenia Communities Group (ASX: INA) has upgraded its FY18 EBIT guidance to exceed $48.5 million – up from previous guidance of between $45 million and $47 million.

Ingenia released several updates to investors this week, after its share price shot up 18% from $2.63 on June 20 to $3.11 on June 27, only to slide down 2.5% in early morning trade today to $3.03 at the time of writing.

Ingenia is forecast to make between 280 and 285 new home settlements for FY18 – up 33% on FY17, with 350 settlements expected to be delivered in FY19.

Ingenia’s successes come at the same time Aveo Group (ASX: AOG) is showing signs of a struggle.

Aveo’s share price has been on a downward trend since early May, dropping 4.1% today to $2.33 at the time of writing.

Elsewhere in the space Lifestyle Communities Limited (ASX: LIC) is on a share price incline of late, with Lifestyle shares up 0.6% to $5.93 at the time of writing while sector peer Gateway Lifestyle Group (ASX: GTY) hits the red, down 2.4% to $2.35.

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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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